CNB Financial (NASDAQ:CCNE - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Sunday.
A number of other brokerages also recently weighed in on CCNE. DA Davidson began coverage on shares of CNB Financial in a report on Friday, May 15th. They set a "neutral" rating and a $34.00 target price for the company. Keefe, Bruyette & Woods upped their price target on CNB Financial from $30.00 to $34.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of CNB Financial in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.33.
Check Out Our Latest Stock Analysis on CNB Financial
CNB Financial Stock Up 0.5%
Shares of NASDAQ:CCNE traded up $0.16 during midday trading on Friday, reaching $33.62. The company's stock had a trading volume of 63,379 shares, compared to its average volume of 194,937. The firm has a 50 day moving average of $31.78 and a 200-day moving average of $29.58. The firm has a market capitalization of $995.82 million, a P/E ratio of 11.96 and a beta of 0.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. CNB Financial has a 12-month low of $21.63 and a 12-month high of $34.92.
CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings results on Monday, April 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.06. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. The company had revenue of $83.32 million during the quarter, compared to analysts' expectations of $79.35 million. On average, research analysts anticipate that CNB Financial will post 3.53 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of CCNE. JPMorgan Chase & Co. lifted its position in CNB Financial by 67.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank's stock valued at $6,272,000 after acquiring an additional 104,516 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of CNB Financial by 228.4% in the 3rd quarter. Maltese Capital Management LLC now owns 478,200 shares of the bank's stock worth $11,572,000 after purchasing an additional 332,600 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CNB Financial by 184.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 117,272 shares of the bank's stock worth $3,069,000 after purchasing an additional 76,052 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of CNB Financial by 276.2% in the fourth quarter. State of Alaska Department of Revenue now owns 3,160 shares of the bank's stock worth $81,000 after purchasing an additional 2,320 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of CNB Financial in the fourth quarter worth $27,000. 52.35% of the stock is owned by hedge funds and other institutional investors.
About CNB Financial
(
Get Free Report)
CNB Financial Corporation NASDAQ: CCNE is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.
The company's core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.
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